School bond refinancing benefits Madison taxpayers

4:13 PM,
Dec. 20, 2013

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Madison Parish School Superintendent Lisa Wilmore said taxpayers will save $512,000 following a bond refinancing by the School Board.

She said opportunity became available after a combination of the School Board's ability to upgrade its bond rating to "A (Stable)" by Standard & Poor's rating agency and lower interest rates.

Madison's initial bonds had been issued in 2005 as part of the funding for the new Madison Parish High School when interest rates were much higher. The bonds are paid from a parishwide property tax levied each year, and the savings will be realized in the annual tax ...